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09/20/2011

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John Theodorou

Further to my previous post see; Saudi need for oil at $85 may speed cutback
http://gulfnews.com/business/oil-gas/saudi-need-for-oil-at-85-may-speed-cutback-1.850907

Saudi Arabia may start cutting oil output ‘much sooner' than it did after the financial crisis in 2008 because it now needs crude prices of at least $85 a barrel to pay for spending...

...While Saudi would have decreased supply in early 2011, loss of Libyan volumes in the first quarter and increased Japanese demand post the March earthquake have meant the taps have stayed open...

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